Today’s top stories in the Crypto Roundup: The US Senate Banking Committee announces hearing on Facebook Libra, Hard Core Fund gets 50 BTC to support Bitcoin developers and Algorand’s ALGO Tokens Sell for $60 Million.

The markets have continued to consolidate with bitcoin holding above the $9,000 mark for 4 days. At the time of writing, bitcoin (BTC) is trading at $9,231.40 (+0.70%) with a 24h volume of $2.04bn and ether (ETH) is trading at $267.56 (-0.32%) with a 24h volume of $1.19bn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 4,275.82 (+1.04%).

The two most prominent privacy-centric cryptoassets, Monero (XMR) and ZCash (ZEC) have been hitting yearly highs and are up 22% and 35% respectively in the past two weeks. At the time of writing Monero is trading at $103.64 and ZCash at $107.93.

Senate Banking Committee Announces Hearing on Facebook Libra

The U.S. Senate Banking Committee announced that it will hold a hearing on July 16 to question witnesses about Facebook’s new cryptocurrency and blockchain project, Libra. At the time of writing, it has not yet been revealed which individuals will testify before the Committee.

The hearing – to be called ‘Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations’ – was tabled just days after the social media giant officially revealed its plans for its controversial new blockchain and cryptocurrency.

Hard Core Fund gets 50 BTC to Support Bitcoin Developers

Primitive Ventures’ Dovey Wan revealed that she has amassed 50 BTC – roughly $450,000 – on behalf of non-profit Hard Core Fund to fund Bitcoin developers.

Explaining her motivation behind the project, Wan told CoinDesk, “right now, you wouldn’t believe it, there are less than 10 full-time bitcoin developers... We want to fund full-time independent bitcoin developers.”

Established in 2018, the Hard Core Fund is managed by Pan Zhibiao, a former Bitmain employee, while Wan serves as executive director for the fund.

0.25% of Algorand’s ALGO Tokens Sell for $60 Million

Algorand – a permissionless, decentralized cryptocurrency and transactions platform – closed its first Dutch auction with a clearing price of $2.40 per Algo (ALGO) token - the native token of the Algorand blockchain platform.

The auction was run by the Algorand Foundation, which explained blog post on Wednesday, that it now stands as “the first organization to conduct a fully transparent global auction on its own blockchain.”

Just 0.25 percent of ALGO’s total supply was sold to bidders for a total of $60.4 million. The Algorand Foundation will in a year’s time offer redemptions on tokens at 90 percent of the $2.40 clearing price.

The completion of the inaugural ALGO auction also marked the mainnet launch of the Algorand. It was first unveiled by MIT professor Silvio Micali in early 2017.

State of the Crypto by Top Tier Exchange Volume

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